Georgia foreclosure rate among highest in nation
Fri, 16 Sep 2011 02:49:27 GMT —
Along with Georgia's high poverty rate, the state is also among the highest in home foreclosures.
Georgia ranks fifth in the nation for the highest state total of foreclosures within the month of July. This information is cited in the Atlanta Business Chronicle.
State Senator Lester Jackson says the state is in a much worse place now than a decade ago.
Local realtors agree but they say it's all about waiting out the storm.
"A lot of realtors and brokers have talked about this. They say those who survive this period of foreclosures are the ones that are going to be here," said Becky Brown, Owner of Brown & Brown Real Estate Group, "A lot of businesses have had to close. I mean they just can't keep the doors open."
The report also listed Georgia as one of the last in the nation to create jobs.